MIAMI, FL and CALI, COLOMBIA - (NewMediaWire) - October 29, 2015 - New Colombia Resources, Inc. (OTC PINK: NEWC) ("New Colombia" or the "Company"), a U.S. company with specialty metallurgical coal, medical marijuana, and hemp assets, is pleased to announce the decision of Colombia's Health Minister to allow for the manufacture and sale of medical marijuana products.
Health Minister Alejandro Gaviria stated he is working on a decree to allow for the commercialization of medical cannabis products that would legalize the elaboration and sale of phytotherapeutic products or herbal medicines that contain cannabis. "The decree is about creating the possibility to form an Agro business that sells legal marijuana products, for example ointments, creams and oils..." stated the Minister. He went on to comment that some of these products are already legally being sold.
New Colombia Resource's subsidiary, Sannabis SAS, has been legally producing medicines on the TOEZ Indian reservation for two years. This site in Norte del Cauca has ideal growing conditions and is home to some of the most sought after strains in the World. Sannabis is securing their market share for medical marijuana products by working directly with indigenous families, insuring their ability to organically produce clones of Sannabis strains, and guaranteeing the purchase of their crop every quarter. Sannabis then manufactures and packages the products on the reservation. A state of the art laboratory built to INVIMA standards is nearing completion. This lab will process hundreds of pounds of medical cannabis per day. Sannabis currently operates at gross profit margins between 250% to over 2000% on their products. These profits are reinvested in securing high quality standards for their medicines and new distribution channels.
"We have been promoting and investing in Colombia's legal medical marijuana products market for some time and believe we will grow significantly once our state of the art laboratory is completed next month. Colombia's administration should be recognized on their forward thinking and courage to right a wrong that has plagued this country for too long," said John Campo, President of New Colombia Resources. "We aim to make 'Made in Colombia' medical marijuana and hemp products the gold standard," further stated Mr. Campo.
In addition to medical marijuana products, New Colombia intends to plant hundreds of hectares of industrial hemp to cost effectively produce bio-diesel with extractors near production zones.
To view or purchase Sannabis products visit www.sannabis.co. Follow Sannabis on Facebook for photos and testimonials at https://www.facebook.com/sannabis.cannamedicinal
New Colombia Resources, Inc.
New Colombia Resources, Inc. is focused on the acquisition and development of high-quality metallurgical coal properties and other available resources in the Republic of Colombia. They expect to have several revenue producing businesses including; metallurgical coal mining and rock quarry aggregates for domestic Colombian highway and railroad building projects. The Company owns 100% of La Tabaquera metallurgical coal mine in Colombia with an estimated 15- 17 million tonnes of reserves. They have another pending acquisition for 390 ha and a solicitation contract for 184 ha metallurgical coal concession. New Colombia Resources also holds a significant position in Sannabis SAS which legally produces medical marijuana products in the Republic of Colombia, visit www.sannabis.co. For more information on the Company visit www.newcolombiaresources.com.
Forward Looking Statements
Forward Looking Statements; This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements might not occur. Factors that could cause or contribute to such differences include financing, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations. New Colombia Resources, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.